Appraisal 250730.pdf
Mark Odland, LaRae Odland, Petitioners V Township Of South Haven, Respondent · 25-003033-TT
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Produced by ClickFORMS Software 800-622-8727 INVOICE Date: File No. Prepared for: Property Appraised: Work Performed: $ $ $ $ $ $ Total Amount Due: $ Please make checks payable to: 07/25/2025 51948 Mark Odland 76676 Wood Crest Ct South Haven, MI 49090 Odland, Mark 76676 Wood Crest Ct South Haven, MI 49090 APPRAISAL SERVICES RENDERED 450.00 Paid -450.00 0.00 Appraisal One Company, L.L.C. P.O. Box 83 Paw Paw, MI 49079
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APPRAISAL REPORT OF PREPARED FOR AS OF PREPARED BY 76676 Wood Crest Ct South Haven, MI 49090 Mark Odland 76676 Wood Crest Ct South Haven, MI 49090 07/14/2025 Appraisal One Company, L.L.C. P.O. Box 83 Paw Paw, MI 49079
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RE: File No. Case No. Dear In accordance with your request, I have personally inspected and prepared an appraisal report of the real property located at: The purpose of this appraisal is to estimate the market value of the property described in the body of this appraisal report. Enclosed, please find the appraisal report which describes certain data gathered during our investigation of the property. The methods of approach and reasoning in the valuation of the various physical and economic factors of the subject property are contained in this report. An inspection of the property and a study of pertinent factors, including valuation trends and an analysis of neighborhood data, led the appraiser to the conclusion that the market value, as of is: $ The opinion of value expressed in this report is contingent upon the limiting conditions attached to this report. It has been a pleasure to assist you. If I may be of further service to you in the future, please let me know. Respectfully submitted, Signature: Appraisal One Company, L.L.C. P.O. Box 83 Paw Paw, MI 49079 269-657-5252 07/25/2025 Mark Odland 76676 Wood Crest Ct South Haven, MI 49090 Odland, Mark 76676 Wood Crest Ct South Haven, MI 49090 51948 76676 Wood Crest Ct, South Haven, MI 49090 07/14/2025 1,100,000 Mark R. Gale
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Produced by ClickFORMS Software 800-622-8727 File No. Residential Appraisal Report The purpose of this appraisal report is to provide the client with an accurate, and adequately supported, opinion of the market value of the subject property. Property Address City State Zip Code Owner Intended User County Legal Description Assessor's Parcel # Tax Year R.E. Taxes $ Neighborhood Name Map Reference Census Tract Occupant Owner Tenant Vacant Special Assessments $ PUD HOA $ per year per month Property Rights Appraised Fee Simple Leasehold Other (describe) Intended Use Client Address Is the subject property currently offered for sale or has it been offered for sale in the twelve months prior to the effective date of this appraisal? Yes No Report data source(s) used, offerings price(s), and date(s). SUBJECT I did did not analyze the contract for sale for the subject purchase transaction. Explain the results of the analysis of the contract for sale or why the analysis was not performed. Contract Price $ Date of Contract Is the property seller the owner of public record? Yes No Data Source(s) Is there any financial assistance (loan charges, sale concessions, gift or downpayment assistance, etc.) to be paid by any party on behalf of the purchaser? Yes No If Yes, report the total dollar amount and describe the items to be paid. CONTRACT Note: Race and the racial composition of the neighborhood are not appraisal factors. Neighborhood Characteristics One-Unit Housing Trends One-Unit Housing Present Land Use % Location Urban Suburban Rural Property Values Increasing Stable Declining PRICE AGE One-Unit % Built-Up Over 75% 25-75% Under 25% Demand/Supply Shortage In Balance Over Supply $ (000) (yrs) 2-4 Unit % Growth Rapid Stable Slow Marketing Time Under 3 mths 3-6 mths Over 6 mths Low Multi-Family % Neighborhood Boundaries High Commercial % Pred. Other % Neighborhood Description Market Conditions (including support for the above conclusions) NEIGHBORHOOD Dimensions Area Shape View Specific Zoning Classification Zoning Description Zoning Compliance Legal Legal Nonconforming (Grandfathered Use) No Zoning Illegal (describe) Is the highest and best use of subject property as improved (or as proposed per plans and specifications) the present use? Yes No If No, describe. Utilities Public Other (describe) Public Other (describe) Off-site Improvements--Type Public Private Electricity Water Street Gas Sanitary Sewer Alley FEMA Special Flood Hazard Area Yes No FEMA Flood Zone FEMA Map # FEMA Map Date Are the utilities and/or off-site improvements typical for the market area? Yes No If No, describe. Are there any adverse site conditions or external factors (easements, encroachments, environmental conditions, land uses, etc.)? Yes No If Yes, describe. SITE General Description Foundation Exterior Description materials/condition Interior materials/condition Units One One with Accessory Unit Concrete Slab Crawl Space Foundation Walls Floors # of Stories Full Basement Partial Basement Exterior Walls Walls Type Det. Att. S-Det./End Unit Basement Area sq. ft. Roof Surface Trim/Finish Existing Proposed Under Const. Basement Finish % Gutters & Downspouts Bath Floor Design (Style) Outside Entry/Exit Sump Pump Window Type Bath Wainscot Year Built Evidence of Infestation Storm Sash/Insulated Car Storage None Effective Age (Yrs) Dampness Settlement Screens Driveway # of Cars Attic None Heating FWA HWBB Radiant Amenities Woodstove(s) # Driveway Surface Drop Stair Stairs Other Fuel Fireplace(s) # Fence Garage # of Cars Floor Scuttle Cooling Central Air Conditioning Patio/Deck Porch Carport # of Cars Finished Heated Individual Other Pool Other Att. Det. Built-in Appliances Refrigerator Range/Oven Dishwasher Disposal Microwave Washer/Dryer Other (describe) Finished area above grade contains: Rooms Bedrooms Bath(s) Square Feet of Gross Living Area Above Grade Additional features (special energy efficient items, etc.) Describe the condition of the property (including needed repairs, deterioration, renovations, remodeling, etc.). Are there any physical deficiencies or adverse conditions that affect the livability, soundness, or structural integrity of the property? Yes No If Yes, describe Does the property generally conform to the neighborhood (functional utility, style, condition, use, construction, etc.)? Yes No If No, describe IMPROVEMENTS NL - Residential 5/2007 This form may be reproduced unmodified without written permission, however, Bradford Technologies, Inc. must be acknowledged and credited. Page of Appraisal One Company, L.L.C. 51948 76676 Wood Crest Ct South Haven MI 49090 Odland, Mark & Lare Odland, Mark Van Buren UNIT 11 COTTAGES AT WOODCREST 80-17-148-011-00 2024 4,361.00 South Haven Township na 105.00 X 0 0 X Valuation Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 X . X X X X X X 150 2,000 1,000 1 150 10 65 0 0 0 vacant 35 Subject area is bordered by 14th Ave North, Blue Star Hwy East, 16th Ave South and 77th St West. 35% land use is vacant. Subject is located in South Haven Township. Area homes consist of ranch, traditional, cape cod, bungalow, victorian and manufactured. The City of South Haven provides basic shopping needs. I-196 is the nearest major freeway, accessible within one mile East. Subject is located in the South Haven School District. Typical marketing time is 1 to 12 months when listed within 10% of final selling price. Financing is available to qualified buyers with current rates at record lows. The current subject market appears to be in balance. See market comments in attached addendum. 4.8 acres 4.8 acres Rectangular Residential/Woods R Single Family Residential X X X X X Well X Septic Tank Asphalt X None X X 26159C0131D 11/16/2023 X X Typical utility easements do not effect value. No apparent adverse easements, encroachments, special assessments, slide areas, etc. X 1.5 X X Traditional 2024 1 X 2,247 100 X X poured concrete/gd vinyl/gd asphalt shingle/gd aluminum/gd casement/gd alum/gd alum/gd laminate, tile/gd drywall/gd wood/gd tile/gd drywall/gd X X na ga X X 2 X dk, pto none 0 none X cov, 3sr X guest apt X 6 Concrete X 4 X X X X X X X 7 3 2.00 2,872 Two car attached garage, two car detached garage, guest apartment, deck, three season room, porch, patio, two fireplaces. C1 Subject is a new, high quality construction with materials and workmanship appearing high quality. X X 1 26
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Produced by ClickFORMS Software 800-622-8727 Net Adj: 19% Gross Adj : 19% Net Adj: -10% Gross Adj: 16% Net Adj: 13% Gross Adj: 18% File No. Residential Appraisal Report There are comparable properties currently offered for sale in the subject neighborhood ranging in price from $ to $ . There are comparable sales in the subject neighborhood within the past twelve months ranging in sale price from $ to $ . FEATURE SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Address Proximity to Subject Sale Price $ $ $ $ Sale Price/Gross Liv. Area $ sq. ft. $ sq. ft. $ sq. ft. $ sq. ft. Data Source(s) Verification Source(s) VALUE ADJUSTMENTS DESCRIPTION DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment DESCRIPTION +(-) $ Adjustment Sale or Financing Concessions Date of Sale/Time Location Leasehold/Fee Simple Site View Design (Style) Quality of Construction Actual Age Condition Above Grade Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Total Bdrms. Baths Room Count Gross Living Area sq. ft. sq. ft. sq. ft. sq. ft. Basement & Finished Rooms Below Grade Functional Utility Heating/Cooling Energy Efficient Items Garage/Carport Porch/Patio/Deck Net Adjustment (Total) + - $ + - $ + - $ Adjusted Sale Price of Comparables $ $ $ I did did not research the sale or transfer history of the subject property and comparable sales. If not, explain My research did did not reveal any prior sales or transfers of the subject property for the three years prior to the effective date of this appraisal. Data source(s) My research did did not reveal any prior sales or transfers of the comparable sales for the year prior to the date of sale of the comparable sale. Data source(s) Report the results of the research and analysis of the prior sale or transfer history of the subject property and comparable sales (report additional prior sales on page 3). ITEM SUBJECT COMPARABLE SALE # 1 COMPARABLE SALE # 2 COMPARABLE SALE # 3 Date of Prior Sale/Transfer Price of Prior Sale/Transfer Data Source(s) Effective Date of Data Source(s) Analysis of prior sale or transfer history of the subject property and comparable sales Summary of Sales Comparison Approach SALES COMPARISON ANALYSIS Indicated Value by Sales Comparison Approach $ Indicated Value by: Sales Comparison Approach $ Cost Approach (if developed) $ Income Approach (if developed) $ This appraisal is made "as is," subject to completion per plans and specifications on the basis of a hypothetical condition that the improvements have been completed, subject to the following repairs or alterations on the basis of a hypothetical condition that the repairs or alterations have been completed, or subject to the following required inspection based on the extraordinary assumption that the condition or deficiency does not require alteration or repair: Based on a complete visual inspection of the interior and exterior areas of the subject property, defined scope of work, statement of assumptions and limiting conditions, and appraiser's certification, my (our) opinion of the market value, as defined, of the real property that is the subject of this report is RECONCILIATION $ , as of . NL - Residential 5/2007 This form may be reproduced unmodified without written permission, however, Bradford Technologies, Inc. must be acknowledged and credited. Page of Appraisal One Company, L.L.C. 51948 3 600,000 900,000 10 600,000 900,000 76676 Wood Crest Ct South Haven, MI 49090 0.00 Residential Fee Simple 4.8 acres Residential/Woods Traditional Q2 1 yrs C1 7 3 2.00 2,872 Full/2,247 sf 2br, 2 rec, bath Average ga fa/ce None 2 car att, 2 car det 3sr, pch, pt, dk Fireplaces 2 Other guest apartment 13100 Deer Creek Dr South Haven, MI 49090 0.93 miles E 850,000 548.39 SWMRIC#25002687 Van Buren County Records cash/dom-59 0 0 0 04/14/2025 0 Residential 0 Fee Simple .83 acres +16,000 Residential/Creek 0 Ranch 0 Q2 5 yrs +20,000 C2 +20,000 +4,000 6 2 1.50 +2,250 1,550 +33,050 Full/1,550 sf +6,970 4 br, bath, 1/2 ba 0 Average ga fa/ce None 3 car att +3,000 3sr, porch +2,000 1 +2,500 None +50,000 X 159,770 1,009,770 7241 Pacific Ave South Haven, MI 49090 7.07 miles N 1,335,000 341.87 SWMRIC#25007526 Allegan County Records conv/dom-1 0 0 0 03/27/2025 0 Residential Fee Simple .32 acres +20,000 Residential/Woods Traditional Q2 1 yrs C1 -8,000 12 5 6.50 -20,250 3,905 -25,825 Full/1,691 sf +5,560 rec, bath +5,000 Average ga fa/ce None 2 car att +6,000 deck's, patio's,pool -20,000 2 assoc access Lk MI -100,000 X -137,515 1,197,485 336 Preserve Dr South Haven, MI 49090 3.69 miles NE 975,000 409.66 SWMRIC#23019988 Van Buren County Records cash/dom-336 0 0 0 07/24/2024 0 Residential Fee Simple .13 acres +25,000 Residential/Water -20,000 Traditional Q2 6 yrs +20,000 C2 +20,000 -4,000 8 4 2.50 -2,250 2,380 +12,300 Full/1,077 sf +11,700 2 br, 2 ba, rec 0 Average ga fa/ce None 2 car att +6,000 patio, porch +5,000 1 +2,500 None +50,000 X 126,250 1,101,250 X X X Van Buren County Records 07/22/2025 swmric mls 07/22/2025 swmric mls 07/22/2025 swmric mls 07/22/2025 See attached Addendum. See attached Addendum. 1,100,000 1,100,000 Greatest weight given Market approach. This approach is the most widely accepted and understood method of valuation. It measures in the market the action of typical Buyers and Sellers. X 1,100,000 07/14/2025 2 26
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Produced by ClickFORMS Software 800-622-8727 File No. ADDITIONAL COMMENTS COST APPROACH TO VALUE (if applicable) Support for the opinion of site value (summary of comparable land sales or other methods for estimating site value) ESTIMATED REPRODUCTION OR REPLACEMENT COST NEW OPINION OF SITE VALUE =$ Source of cost data Dwelling Sq. Ft. @ $ =$ Quality rating from cost service Effective date of cost data Sq. Ft. @ $ =$ Comments on Cost Approach (gross living area calculations, depreciation, etc.) Garage/Carport Sq. Ft. @ $ =$ Total Estimate of Cost-new =$ Less Physical Functional External Depreciation =$ ( ) Depreciated Cost of Improvements =$ "As-is" Value of Site Improvements =$ COST APPROACH Estimated Remaining Economic Life (HUD and VA only) Years Indicated Value By Cost Approach =$ INCOME APPROACH TO VALUE (if applicable) Estimated Monthly Market Rent $ X Gross Multiplier =$ Indicated Value by Income Approach Summary of Income Approach (including support for market rent and GRM) INCOME PROJECT INFORMATION FOR PUDs (if applicable) Is the developer/builder in control of the Homeowner's Association (HOA)? Yes No Unit type(s) Detached Attached Provide the following information for PUDs ONLY if the developer/builder is in control of the HOA and the subject property is an attached dwelling unit. Legal Name of Project Total number of phases Total number of units Total number of units sold Total number of units rented Total number of units for sale Data source(s) Was the project created by the conversion of existing building(s) into a PUD? Yes No If Yes, date of conversion. Does the project contain any multi-dwelling units? Yes No Data source. Are the units, common elements, and recreation facilities complete? Yes No If No, describe the status of completion. Are the common elements leased to or by the Homeowner's Association? Yes No If Yes, describe the rental terms and options. Describe common elements and recreational facilities. PUD INFORMATION Page of Residential Appraisal Report NL - Residential 5/2007 This form may be reproduced unmodified without written permission, however, Bradford Technologies, Inc. must be acknowledged and credited. Appraisal One Company, L.L.C. 51948 Condition of interior and exterior materials is estimated based on a visual inspection only. Client is aware that this appraiser is neither trained or qualified to render an expert opinion. Client are reminded that, per #5 under limiting conditions, this appraiser is not liable for conditions not seen. This appraiser did not inspect any attic or crawl space or test mechanicals. Replacement cost figures are for valuation purposes only. These figures should not be used for insurance purposes. The definition of Market Value on Page 4 of this report is not likely to be consistent with the definition of insurable value. The Intended User of this appraisal report is the Client. The Intended Use is to evaluate the property that is the subject of this appraisal to determine Fair Market Value, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal report form, and Definition of Market Value. No additional Intended Users are identified by the appraiser. ALL PARTIES INVOLVED IN THIS TRANSACTION INCLUDING CLIENT, REAL ESTATE AGENTS, BUYERS, SELLERS AND BORROWERS UNDERSTAND AND ARE AWARE THAT THIS IS AN APPRAISAL AND NOT A HOME INSPECTION. BORROWERS NEED TO SECURE THEIR OWN HOME INSPECTIONS THROUGH THE SERVICES OF A QUALIFIED AND LICENSED INSPECTOR TO SATISFY THEMSELVES ABOUT THE CONDITION OF THE PROPERTY. Estimated site value is based on vacant site sales in this area. Determined by a search of MLS records of vacant land sales over the past 12 months in the Subject area. It is common for site value perventages to be higher than normal with waterfront sites and sites with additional acreage. X Marshall and Swift 2025 Due to the significant amount of verifiable sales data in the marketplace the cost approach was not necessary to produce a credible assignment result. 90 240,000 2,872 Bsmt. 2,247 1,933 1 0 0 0 na na Subject is a single family residence located in an area of single family residences and the Income Approach was not considered applicable. 3 26
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Produced by ClickFORMS Software 800-622-8727 COMMENT ADDENDUM File No. Borrower Property Address City County State Zip Code Lender/Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 The Intended User of this appraisal report is the Client. The Intended Use is to evaluate the property that is the subject of this appraisal, subject to the stated Scope of Work, purpose of the appraisal, reporting requirements of this appraisal report form, and Definition of Market Value. No additional Intended Users are identified by the appraiser. ADDITIONAL SITE COMMENTS - Subject site was provided by the Van Buren Land Description Office. ADDITIONAL SUBJECT COMMENTS - Subject is a traditional style home, with a full/walkout basement and two car attached / two car detached garage. Mechanical features include a natural gas forced air furnace and central air. COMPARABLE SALES - Three comparable sales were considered the best comparables in this area at this time. All comparables are similar parcels, located in the subject area and were given equal consideration when establishing market value. REQUIRED ADJUSTMENTS - SITE - Adjustments based on vacant site sales in this area. SKETCH - All measurements were obtained using the ANSI Method of measuring and calculation. ADDITIONAL COMMENTS - Dwellings built prior to 1978 may contain lead based paint. ADDITIONAL COMMENTS - Sales over 6 months old were considered superior to alternative sales that were less similar in terms of size, design, location and/or general Market appeal. Subject was appraised retroactive to 04/10/2023. FLOOD PLAIN - Subject property appears dry and does not appear to be in a flood plain area. This appraiser, however, is not an expert on flood plains and due to the lack of good reference points on the flood maps, such a determination can only be estimated. In some instances comparable photographs have been down loaded from the multiple listing service or used from previous appraisal files. In those instances where the appraiser did not personally take the comparable photograph an external inspection of the comparable was made from the public street (where possible) to verify the accuracy of the data provided by the listing agent. Also note that digital photography is used and photographs that are taken by the appraiser are saved for later use sometimes resulting in seasonal differences. In all cases, Lender/Client is aware that the appraiser has used his/her judgment when visually inspecting Comparable Sales and Comparable Listings when pictures may result in threatening conditions. 4 26
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Produced by ClickFORMS Software 800-622-8727 COMMENT ADDENDUM File No. Borrower Property Address City County State Zip Code Lender/Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 Electronic Signature and Photo Addendum: This appraisal report may contain electronic images and/or electronic signatures. FannieMae guidelines indicate that the photographs must be clear and descriptive in either black and white or color. The photographs must be originals that are produced either by photography or electronic imaging. (FannieMae Property and Appraisal Analysis-Appraisal Documentation and Certifications-Section 204). If this appraisal report contains electronic signatures, Uniform Standards of Professional Appraisal Practice, (USPAP) Statement No. 8 (SMT-8) states that measures must be taken to insure the integrity of the electronic signature. The appraiser must affix his own signature to the report and he/she alone has the password. Electronically affixing a signature to a report carries the same level of authenticity and responsibility as an ink signature on a paper copy report. We have followed the USPAP and FannieMae Guidelines in this appraisal of both photographs, if applicable, and electronic signatures in the attached report. HIGHEST AND BEST USE - Subject is a single family residence that is located in an area of and conforms with other single family properties. Therefore, single family residential is considered its highest and best use. The Highest and Best Use of a property is that use which is: 1. Legally Permissable 2. Physically Possible 3. Economically Feasible 4. Maximally Profitable In the appraiser's opinion, the current use is the Highest and Best Use, as improved, and as if vacant, and is that use reflected in the appraised value. ADDITIONAL COMMENTS - This appraiser performed a 12 month search of MLS records to determine the best and most similar Comparable Sale data available to determine Fair Market Value. In addition, this appraiser searched MLS records for all Comparable Listings in the Subject area which were reviewed and analyzed along with any neighborhood factors that would have a positive or negative effect on Marketability. This assignment requires geographic competency as part of the scope of work. I have spent sufficient time in the Subjects market and understand the nuances of the local market and the supply and demand factors relating to the specific property type and location involved. MARKET CONDITIONS - New home construction in the Subject area has increased over the past 24 months and the overall Market is considered stable with home and property values considered stable to appreciating due primarily to accessible local financing and a lower than normal inventory of listings currently on the Market. REO sales, foreclosure sales and short sales are currently not a major factor in the overall Subject Market. 5 26
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Produced by ClickFORMS Software 800-622-8727 File No. APPRAISAL COMPLIANCE ADDENDUM Borrower/Client Address Unit No. City County State Zip Code Lender/Client This Appraisal Compliance Addendum is included to ensure this appraisal report meets all USPAP 2014 requirements. APPRAISAL AND REPORT IDENTIFICATION This Appraisal Report is one of the following types: Appraisal Report This report was prepared in accordance with the requirements of the Appraisal Report option of USPAP Standards Rule 2-2(a). Restricted Appraisal Report This report was prepared in accordance with the requirements of the Restricted Appraisal Report option of USPAP Standards Rule 2-2(b). The intended user of this report is limited to the identified client. This is a Restricted Appraisal Report and the rationale for how the appraiser arrived at the opinions and conclusions set forth in the report may not be understood properly without the additional information in the appraiser's workfile. ADDITIONAL CERTIFICATIONS I certify that, to the best of my knowledge and belief: . The statements of fact contained in this report are true and correct. . The reported analyses, opinions, and conclusions are limited only by the reported assumptions and are my personal, impartial, and unbiased professional analyses, opinions, and conclusions. . Unless otherwise indicated, I have no present or prospective interest in the property that is the subject of this report and no personal interest with respect to parties involved . Unless otherwise indicated, I have performed no services, as an appraiser or in any other capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. . I have no bias with respect to the property that is the subject of this report or the parties involved with this assignment. . My engagement in this assignment was not contingent upon developing or reporting predetermined results. . My compensation for completing this assignment is not contingent upon the development or reporting of a predetermined value or direction in value that favors the cause of the client, the amount of the value opinion, the attainment of a stipulated result, or the occurrence of a subsequent event directly related to the intended use of this appraisal. . My analyses, opinions, and conclusions were developed and this report has been prepared, in conformity with the Uniform Standards of Professional Appraisal Practice that were in effect at the time this report was prepared. . Unless otherwise indicated, I have made a personal inspection of the property that is the subject of this report. . Unless otherwise indicated, no one provided significant real property appraisal assistance to the person(s) signing this certification (if there are exceptions, the name of each individual providing significant real property appraisal assistance is stated elsewhere in this report). . This report has been prepared in accordance with Title XI of FIRREA as amended, and any implementing regulations. PRIOR SERVICES . I have NOT performed services, as an appraiser or in another other capacity, regarding the property that is the subject of the report within the three-year period immediately preceding acceptance of this assignment. . IHAVE performed services, as an appraiser or in another capacity, regarding the property that is the subject of this report within the three-year period immediately preceding acceptance of this assignment. Those services are described in the comments below. PROPERTY INSPECTION . I HAVE made a personal inspection of the property that is the subject of this report. . I have NOT made a personal inspection of the property that is the subject of this report. APPRAISAL ASSISTANCE Unless otherwise noted, no one provided significant real property appraisal assistance to the person signing this certification. If anyone did provide significant assistance, they are hereby identified along with a summary of the extent of the assistance provided in the report. ADDITIONAL COMMENTS Additional USPAP related issues requiring disclosure and/or any state mandated requirements: MARKETING TIME AND EXPOSURE TIME FOR THE SUBJECT PROPERTY A reasonable marketing time for the subject property is day(s) utilizing market conditions pertinent to the appraisal assignment. A reasonable exposure time for the subject property is day(s). APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Signature Name Name Date of Signature Date of Signature State Certification # State Certification # or State License # or State License # State State Expiration Date of Certification or License Expiration Date of Certification or License Supervisory Appraiser Inspection of Subject Property: Effective Date of Appraisal Did Not Exterior Only from street Interior and Exterior USPAP Compliance Addendum 2014 Page of Appraisal One Company, L.L.C. 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland X X X Christopher M Gale, a State Licensed Appraiser in the State of Michigan, assisted in the preparation of this report including inspection and development. X X 30 30 Mark R. Gale 07/25/2025 1204002685 MI 07/31/2026 07/14/2025 6 26
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Produced by ClickFORMS Software 800-622-8727 File No. This appraisal report is subject to the scope of work, intended use, intended user, definition of market value, statement of assumptions and limiting conditions, and certifications. The Appraiser may expand the scope of work to include any additional research or analysis necessary based on the complexity of this appraisal assignment. SCOPE OF WORK: The scope of work for this appraisal is defined by the complexity of this appraisal assignment and the reporting requirements of this appraisal report form, including the following definition of market value, statement of assumptions and limiting conditions, and certifications. The appraiser must, at a minimum: (1) perform a complete visual inspection of the subject property, (2) inspect the neighborhood, (3) inspect each of the comparable sales from at least the street, (4) research, verify, and analyze data from reliable public and/or private sources, and (5) report his or her analysis, opinions, and conclusions in this appraisal report. DEFINITION OF MARKET VALUE:As per Fannie Mae the definition of market value is the most probable price which a property should bring in a competitive and open market under all conditions requisite to a fair sale, the buyer and seller, each acting prudently, knowledgeably and assuming the price is not affected by undue stimulus. Implicit in this definition is the consummation of a sale as of a specified date and the passing of title from seller to buyer under conditions whereby: (1) buyer and seller are typically motivated; (2) both parties are well informed or well advised, and each acting in what he or she considers his or her own best interest; (3) a reasonable time is allowed for exposure in the open market; (4) payment is made in terms of cash in U. S. dollars or in terms of financial arrangements comparable thereto; and (5) the price represents the normal consideration for the property sold unaffected by special or creative financing or sales concessions* granted by anyone associated with the sale. *Adjustments to the comparables must be made for special or creative financing or sales concessions. No adjustments are necessary for those costs which are normally paid by sellers as a result of tradition or law in a market area; these costs are readily identifiable since the seller pays these costs in virtually all sales transactions. Special or creative financing adjustments can be made to the comparable property by comparisons to financing terms offered by a third party institutional lender that is not already involved in the property or transaction. Any adjustment should not be calculated on a mechanical dollar for dollar cost of the financing or concession but the dollar amount of any adjustment should approximate the market's reaction to the financing or concessions based on the appraiser's judgment. STATEMENT OF ASSUMPTIONS AND LIMITING CONDITIONS: The appraiser's certification in this report is subject to the following assumptions and limiting conditions: 1. The appraiser will not be responsible for matters of a legal nature that affect either the property being appraised or the title to it, except for information that he or she became aware of during the research involved in performing this appraisal. The appraiser assumes that the title is good and marketable and will not render any opinions about the title. 2. The appraiser has provided a sketch in this appraisal report to show the approximate dimensions of the improvements. The sketch is included only to assist the reader in visualizing the property and understanding the appraiser's determination of its size. 3. The appraiser has examined the available flood maps that are provided by the Federal Emergency Management Agency (or other data sources) and has noted in this appraisal report whether any portion of the subject site is located in an identified Special Flood Hazard Area. Because the appraiser is not a surveyor, he or she makes no guarantees, express or implied, regarding this determination. 4. The appraiser will not give testimony or appear in court because he or she made an appraisal of the property in question, unless specific arrangements to do so have been made beforehand, or as otherwise required by law. 5. The appraiser has noted in this appraisal report any adverse conditions (such as needed repairs, deterioration, the presence of hazardous wastes, toxic substances, etc.) observed during the inspection of the subject property or that he or she became aware of during the research involved in performing this appraisal. Unless otherwise stated in this appraisal report, the appraiser has no knowledge of any hidden or unapparent physical deficiencies or adverse conditions of the property (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) that would make the property less valuable, and has assumed that there are no such conditions and makes no guarantees or warranties, express or implied. The appraiser will not be responsible for any such conditions that do exist or for any engineering or testing that might be required to discover whether such conditions exist. Because the appraiser is not an expert in the field of environmental hazards, this appraisal report must not be considered as an environmental assessment of the property. 6. The appraiser has based his or her appraisal report and valuation conclusion for an appraisal that is subject to satisfactory completion, repairs, or alterations on the assumption that the completion, repairs, or alterations of the subject property will be performed in a professional manner. NL - General Certification 5/2007 This form may be reproduced unmodified without written permission, however, Bradford Technologies, Inc. must be acknowledged and credited. Page of Appraisal One Company, L.L.C. 51948 7 26
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Produced by ClickFORMS Software 800-622-8727 File No. APPRAISER'S CERTIFICATION: The Appraiser certifies and agrees that: 1. I have, at a minimum, developed and reported this appraisal in accordance with the scope of work requirements stated in this appraisal report. 2. I performed a visual inspection of the interior and exterior areas of the subject property. I reported the condition of the improvements in factual, specific terms. I identified and reported the physical deficiencies that could affect the livability, soundness, or structural integrity of the property. 3. I performed this appraisal in accordance with the requirements of the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 4. I developed my opinion of the market value of the real property that is the subject of this report based on the sales comparison approach to value. I have adequate comparable market data to develop a reliable sales comparison approach for this appraisal assignment. I further certify that I considered the cost and income approaches to value but did not develop them, unless otherwise indicated in this report. 5. I researched, verified, analyzed, and reported on any current agreement for sale for the subject property, any offering for sale of the subject property in the twelve months prior to the effective date of this appraisal, and the prior sales of the subject property for a minimum of three years prior to the effective date of this appraisal, unless otherwise indicated in this report. 6. I researched, verified, analyzed, and reported on the prior sales of the comparable sales for a minimum of one year prior to the date of sale of the comparable sale, unless otherwise indicated in this report. 7. I selected and used comparable sales that are locationally, physically, and functionally the most similar to the subject property. 8. I have not used comparable sales that were the result of combining a land sale with the contract purchase price of a home that has been built or will be built on the land. 9. I have reported adjustments to the comparable sales that reflect the market's reaction to the differences between the subject property and the comparable sales. 10. I verified, from a disinterested source, all information in this report that was provided by parties who have a financial interest in the sale or financing of the subject property. 11. I have knowledge and experience in appraising this type of property in this market area. 12. I am aware of, and have access to, the necessary and appropriate public and private data sources, such as multiple listing services, tax assessment records, public land records and other such data sources for the area in which the property is located. 13. I obtained the information, estimates, and opinions furnished by other parties and expressed in this appraisal report from reliable sources that I believe to be true and correct. 14. I have taken into consideration the factors that have an impact on value with respect to the subject neighborhood, subject property, and the proximity of the subject property to adverse influences in the development of my opinion of market value. I have noted in this appraisal report any adverse conditions (such as, but not limited to, needed repairs, deterioration, the presence of hazardous wastes, toxic substances, adverse environmental conditions, etc.) observed during the inspection of the subject property or that I became aware of during the research involved in performing this appraisal. I have considered these adverse conditions in my analysis of the property value, and have reported on the effect of the conditions on the value and marketability of the subject property. 15. I have not knowingly withheld any significant information from this appraisal report and, to the best of my knowledge, all statements and information in this appraisal report are true and correct. 16. I stated in this appraisal report my own personal, unbiased, and professional analysis, opinions, and conclusions, which are subject only to the assumptions and limiting conditions in this appraisal report. 17. I have no present or prospective interest in the property that is the subject of this report, and I have no present or prospective personal interest or bias with respect to the participants in the transaction. I did not base, either partially or completely, my analysis and/or opinion of market value in this appraisal report on the race, color, religion, sex, age, marital status, handicap, familial status, or national origin of either the prospective owners or occupants of the subject property or of the present owners or occupants of the properties in the vicinity of the subject property or on any other basis prohibited by law. 18. My employment and/or compensation for performing this appraisal or any future or anticipated appraisals was not conditioned on any agreement or understanding, written or otherwise, that I would report (or present analysis supporting) a predetermined specific value, a predetermined minimum value, a range or direction in value, a value that favors the cause of any party, or the attainment of a specific result or occurrence of a specific subsequent event. 19. I personally prepared all conclusions and opinions about the real estate that were set forth in this appraisal report. If I relied on significant real property appraisal assistance from any individual or individuals in the performance of this appraisal or the preparation of this appraisal report, I have named such individual(s) and disclosed the specific tasks performed in this appraisal report. I certify that any individual so named is qualified to perform the tasks. I have not authorized anyone to make a change to any item in this appraisal report; therefore, any change made to this appraisal is unauthorized and I will take no responsibility for it. 20. I identified the client in this appraisal report who is the individual, organization, or agent for the organization that ordered and will receive this appraisal report. Page of NL - General Certification 5/2007 This form may be reproduced unmodified without written permission, however, Bradford Technologies, Inc. must be acknowledged and credited. Appraisal One Company, L.L.C. 51948 8 26
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Produced by ClickFORMS Software 800-622-8727 File No. 21. I am aware that any disclosure or distribution of this appraisal report by me or the client may be subject to certain laws and regulations. Further, I am also subject to the provisions of the Uniform Standards of Professional Appraisal Practice that pertain to disclosure or distribution by me. 22. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. SUPERVISORY APPRAISER'S CERTIFICATION: The Supervisory Appraiser certifies and agrees that: 1. I directly supervised the appraiser for this appraisal assignment, have read the appraisal report, and agree with the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 2. I accept full responsibility for the contents of this appraisal report including, but not limited to, the appraiser's analysis, opinions, statements, conclusions, and the appraiser's certification. 3. The appraiser identified in this appraisal report is either a sub-contractor or an employee of the supervisory appraiser (or the appraisal firm), is qualified to perform this appraisal, and is acceptable to perform this appraisal under the applicable state law. 4. This appraisal report complies with the Uniform Standards of Professional Appraisal Practice that were adopted and promulgated by the Appraisal Standards Board of The Appraisal Foundation and that were in place at the time this appraisal report was prepared. 5. If this appraisal report was transmitted as an "electronic record" containing my "electronic signature," as those terms are defined in applicable federal and/or state laws (excluding audio and video recordings), or a facsimile transmission of this appraisal report containing a copy or representation of my signature, the appraisal report shall be as effective, enforceable and valid as if a paper version of this appraisal report were delivered containing my original hand written signature. APPRAISER SUPERVISORY APPRAISER (ONLY IF REQUIRED) Signature Signature Name Name Company Name Company Name Company Address Company Address Telephone Number Telephone Number Email Address Email Address Date of Signature and Report Date of Signature Effective Date of Appraisal State Certification # State Certification # or State License # or State License # State or Other (describe) State # Expiration Date of Certification or License State Expiration Date of Certification or License SUBJECT PROPERTY ADDRESS OF PROPERTY APPRAISED Did not inspect subject property Did inspect exterior of subject property from street Date of Inspection APPRAISED VALUE OF SUBJECT PROPERTY $ Did inspect interior and exterior of subject property CLIENT Date of Inspection Name Company Name COMPARABLE SALES Company Address Did not inspect exterior of comparable sales from street Did inspect exterior of comparable sales from street Email Address Date of Inspection Page of NL - General Certification 5/2007 This form may be reproduced unmodified without written permission, however, Bradford Technologies, Inc. must be acknowledged and credited. Appraisal One Company, L.L.C. 51948 Mark R. Gale Appraisal One Company, L.L.C. P.O. Box 83 Paw Paw, MI 49079 269-657-5252 apponecompany@hotmail.com 07/25/2025 07/14/2025 1204002685 MI 07/31/2026 76676 Wood Crest Ct South Haven, MI 49090 1,100,000 Mark Odland 76676 Wood Crest Ct South Haven, MI 49090 9 26
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Produced by ClickFORMS Software 800-622-8727 SUBJECT PHOTO ADDENDUM File No. Borrower Property Address City County State Zip Code Lender/Client Address FRONT OF SUBJECT PROPERTY REAR OF SUBJECT PROPERTY STREET SCENE Page of Appraisal One Company, L.L.C. 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 76676 Wood Crest Ct South Haven, MI 49090 10 26
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Produced by ClickFORMS Software 800-622-8727 SUBJECT PHOTO ADDENDUM File No. Borrower Property Address City County State Zip Code Lender/Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 SIDE VIEW SIDE VIEW REAR VIEW 11 26
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Produced by ClickFORMS Software 800-622-8727 SUBJECT PHOTO ADDENDUM File No. Owner Property Address City County State Zip Code Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark & Lare 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 DETACHED GARAGE/GUEST APT DETACHED GARAGE INTERIOR GUEST APT 1/2 BATH/LAUNDRY 12 26
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Produced by ClickFORMS Software 800-622-8727 SUBJECT PHOTO ADDENDUM File No. Owner Property Address City County State Zip Code Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark & Lare 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 GUEST APT BEDROOM GUEST APT BATHROOM GUEST APT LIVING AREA 13 26
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Produced by ClickFORMS Software 800-622-8727 SUBJECT PHOTO ADDENDUM File No. Owner Property Address City County State Zip Code Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark & Lare 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 GUEST APT KITCHEN GARAGE INTERIOR LIVING ROOM 14 26
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Produced by ClickFORMS Software 800-622-8727 SUBJECT PHOTO ADDENDUM File No. Owner Property Address City County State Zip Code Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark & Lare 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 DINING ROOM 3 SEASON ROOM KITCHEN 15 26
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Produced by ClickFORMS Software 800-622-8727 SUBJECT PHOTO ADDENDUM File No. Owner Property Address City County State Zip Code Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark & Lare 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 BEDROOM BATHROOM BEDROOM 16 26
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Produced by ClickFORMS Software 800-622-8727 SUBJECT PHOTO ADDENDUM File No. Owner Property Address City County State Zip Code Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark & Lare 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 BATHROOM LAUNDRY ROOM BEDROOM 17 26
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Produced by ClickFORMS Software 800-622-8727 SUBJECT PHOTO ADDENDUM File No. Owner Property Address City County State Zip Code Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark & Lare 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 BASEMENT REC AREA BASEMENT BEDROOM BASEMENT REC AREA 18 26
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Produced by ClickFORMS Software 800-622-8727 SUBJECT PHOTO ADDENDUM File No. Owner Property Address City County State Zip Code Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark & Lare 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 BASEMENT BATHROOM BASEMENT BEDROOM 19 26
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Produced by ClickFORMS Software 800-622-8727 File No. Borrower Property Address City County State Zip Code Lender/Client Address COMPARABLE SALE # COMPARABLE SALE # COMPARABLE SALE # Page of Appraisal One Company, L.L.C. COMPARABLES 1-2-3 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 1 13100 Deer Creek Dr South Haven, MI 49090 2 7241 Pacific Ave South Haven, MI 49090 3 336 Preserve Dr South Haven, MI 49090 20 26
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Produced by ClickFORMS Software 800-622-8727 File No. Borrower Property Address City County State Zip Code Lender/Client Address Page of 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 21 26
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Produced by ClickFORMS Software 800-622-8727 File No. Borrower Property Address City County State Zip Code Lender/Client Address Page of E&O 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 22 26
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Produced by ClickFORMS Software 800-622-8727 File No. Borrower Property Address City County State Zip Code Lender/Client Address Page of E&O 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 23 26
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Produced by ClickFORMS Software 800-622-8727 SKETCH ADDENDUM File No. Borrower Property Address City County State Zip Code Lender/Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 24 26
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Produced by ClickFORMS Software 800-622-8727 AERIAL MAP ADDENDUM File No. Borrower Property Address City County State Zip Code Lender/Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 25 26
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Produced by ClickFORMS Software 800-622-8727 File No. LOCATION MAP ADDENDUM Borrower Property Address City County State Zip Code Lender/Client Address Page of Appraisal One Company, L.L.C. 51948 Odland, Mark 76676 Wood Crest Ct South Haven Van Buren MI 49090 Mark Odland 76676 Wood Crest Ct, South Haven, MI 49090 26 26